May 28, 2009

Menlo Park, CA, USA: Signet Solar and Moncada Energy Group Execute Definitive Supply Agreement

Signet Solar and Italy's Moncada Energy Group have executed a definitive supply agreement for Signet to supply a minimum of 7.7MWp of its Gen 8.5 thin film modules before the end of 2009 and a continued supply relationship in 2010 and beyond.

Moncada, the largest Sicilian producer of wind power (over 100MW) with projects focused in renewable energy across all of Europe, will deploy the purchased thin film modules in large solar PV farms beneath the towers of their wind farms to allow both the panels and the wind turbines to use the same infrastructure in place to collect energy for, what Moncada calls, ”double-harvesting renewable energy.”

"Our deployments will be the world’s first large scale installation of certified Gen 8.5 size (2.2 m x 2.6 m) modules,” said Salvatore Moncada, CEO of the Moncada Energy Group. ”We believe that using these large modules in solar farms will allow for the lowest cost structure per installed watt due to the advances Signet Solar has made in thin film technology and module efficiency, and we are excited to work with Signet over the long term.”

"We are thoroughly excited to work with Moncada Energy Group, who falls perfectly into our strategy of being the world’s leader in providing thin film PV solutions for solar farms," said Gunter Ziegenbalg, Managing Director of Signet Solar. ”We believe this kind of commitment is a testament to our extremely strong quality and reliability, and our customer first approach."

Further details about: Signet Solar and Moncada Energy Group